Analytics Magazine

Twitter: @oranalytics

Nestler Analytics provides a full range of services in the field of business
analytics and operations research. We offer our clients solutions and
technologies to turn their available data and information into knowledge
that provides a competitive edge.

The Institute for Operations Research and Management Science (INFORMS) recently defined analytics as “the scientific process of transforming data into insight for making better decisions.”

One View of Analytics

One way to categorize analytics is by the question answered (and appropriate techniques), as follows.

Descriptive - what has happened? (data modeling, regression)

Predictive - what could happen in the future? (data mining, forecasting)

Prescriptive - what should happen in the future? (optimization, simulation)

Although
this framework may appear hierarchical in nature, it does not imply
that any of the methods are superior to one another; rather it highlights the importance of using a suitable technique for the problem at hand.

Our
staff has extensive experience in developing solutions to analytical
tasks in various application areas, using data analysis and modeling,
statistics, forecasting, data mining, simulation, and optimization. Our
primary areas of expertise are in building simulation and optimization
models within Microsoft Excel using Frontline Systems’ Analytic Solver Platform and data mining with XLMiner; we also use R and other open-source technologies when appropriate.